Dodd-Frank - Appraiser Income

27th April 2011

Help the fight against low paying appraisal management companies by joining The American Guild of Appraisers!

The American Guild of Appraiser (AGA) /Guild 44 of the Office and Professional Employees International Union (OPEIU)/AFL-CIO is based in Maryland, a short distance from Washington, DC.

The AGA is a non-traditional union that represents independent professionals. The AGA does not engage in collective bargaining, strikes, and does not enforce closed shops. The AGA does not negotiate contracts, does not have shop stewards, and does not have any oversight regarding its member’s work products. What we have is the backing of over 10 million members within the AFL-CIO and 110,000 within the OPEIU. With these numbers, we have a collective voice.

…continue reading the rest of this post: Help the fight against low paying appraisal management companies by joining The American Guild of Appraisers!

posted in Dodd-Frank C&R Topics | 2 Comments

12th April 2011

Customary & Reasonable : enforcement 3 to 4 years away?

It sounds like we are in another waiting game regarding customary & reasonable fees as noted in Dodd-Frank.

Key Notes:
* The minimal timeline set forth in the Dodd-Frank Act indicates that those rules may be promulgated within 18 months of July 21, 2011.

* After the rules are in final form, States have 36 months to implement the minimum requirements established by the rules for registration and supervision of AMCs. (The ASC may grant States up to a 12-month extension, subject to specific limited conditions set forth in the Dodd-Frank Act.)

Please read the entire article below:

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1st April 2011

All Appraisal Management companies now paying FULL FEE APPRAISALS

Wow! It is amazing. It looks like all the work banding together as an industry has worked. All the appraisal orders I received today were in the $300-$400 range! Dodd-Frank really came through on this one.

The federal government must have really put the scare in to the appraisal management companies and laid down the law.

The Appraisal Subcommittee even gave me a call back and sent out a few reply emails concerning my questions that were previously left unanswered prior to today, 04/01.

I guess I shouldn’t have been so opinionated regarding comments like ‘I won’t hold my breath’ and ‘business as usual’, etc…

Things really can be different, things really can change.

…continue reading the rest of this post: All Appraisal Management companies now paying FULL FEE APPRAISALS

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31st January 2011

Entire Letter from ASA, AI, Etc. Interim Final Rule December 27, 2010

December 27, 2010

Jennifer J. Johnson
Secretary

Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue, NW
Washington, DC 20551

Re: Docket No. R-1394 and RIN No. AD-7100-56

Thank you for the opportunity to comment on the Interim Final Rule (IFR) amending Regulation Z (Truth in Lending) and the matters of appraiser independence and customary and reasonable fees to appraisers. In reviewing the rule it is clear that the Federal Reserve spent considerable time in preparation of the IFR. The agency is to be commended for its hard work, especially for meeting a very strict and difficult deadline and given other agency resource constraints.

…continue reading the rest of this post: Entire Letter from ASA, AI, Etc. Interim Final Rule December 27, 2010

posted in Dodd-Frank C&R Topics | 2 Comments